Dennis sells US magazines

Dennis sells US magazines

Monday 18 June 2007 05.02 EDT
First published on Monday 18 June 2007 05.02 EDT

Dennis Publishing has sold its US magazine operation, including Maxim and Stuff, to a private equity group for reportedly around $240m (£121m).

The sale, to Quadrangle Capital Partners, marks a winding down of Dennis's decade-long publishing foray into the US, which started with the launch of Maxim in 1997.

Quadrangle will acquire the magazines and websites of titles including Maxim, Blender and Stuff, while Dennis will hold on to the US version of current affairs magazine The Week.

The private equity firm partnered with Kent Brownridge, formerly senior vice president and general manager at Rolling Stone and Men's Journal publisher Wenner Media, who is expected to take the role of chief executive of the Dennis US operation.

James Tye, the chief executive of Dennis Publishing UK, said the sale would have "no impact" on "the UK company, the UK edition of Maxim or any other brand within the portfolio".

In December last year Emap closed the US edition of rival men's monthly FHM citing "difficult market conditions".

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